Volume 1, Number 6
Veeva Systems is Leading the Global Life Sciences Industry
By Tina Hansen
Hacienda is home to one of the fastest growing biotechnology companies in that sector. Veeva Systems, a cloud computing company focused on pharmaceutical and life sciences industry applications, has seen explosive growth as they provide the data and content backbone for the $1.7 trillion life sciences industry since launching in 2007. Veeva has outpaced its revenue projections as it has seen its stock triple in a span of fewer than three years and has expanded its product line to 24 applications.
Veeva’s growth has benefited from the expansion of the cloud and cloud-based subscriptions that make it easy for their customers to collaborate on study activities by providing a single point of access and supporting consistent processes across many areas of life sciences, including commercial, clinical, regulatory, quality, and medical.
One of their fastest growing products, Veeva's Vault, has changed the way data and content is managed in the life sciences field. Veeva Vault provides cloud-based content and data management for hundreds of life sciences companies around the world. The platform includes a suite of applications that span critical business functions, from commercial and medical to regulatory, clinical, and quality. On the R&D side, Veeva Vault streamlines the content, data, and processes that are important in running clinical trials, managing regulations and quality processes, and bringing treatments to market faster for patients who need them.
Veeva was founded in 2007 by Peter Gassner and Matt Wallach, who believed that cloud computing was the future in life sciences. Initially their new business provided a solution called Veeva CRM that would manage the sales force of large pharmaceutical companies. The business quickly grew and now has expanded to several applications that help companies efficiently and effectively reach and connect with their customers.
“Our customers are life-sciences companies large and small from Johnson & Johnson and Pfizer, Novartis, and Amgen to smaller companies, either that are commercializing their very first drugs, or companies that are still in the clinical development stage,” said Matt Wallach, co-founder, and president of Veeva Systems.
The company is now getting recognized for its innovation. At the Business Times’ annual Tech and Innovation Awards, Veeva won in the category of “Best Digital Health Service.” The Business Times’ started their search looking for the most innovative companies in the Bay Area and out of hundreds of nominations, selected Veeva.
Employee sucess is important at Veeva. Veeva takes employee wellness and community leadership in the Tri-Valley seriously by being involved in several activities and programs, like Bike East Bay. Veeva partnered with Bike East Bay to host a bike commuting safety workshop in preparation for Bike to Work Month in May. This is part of an on-going series of health and wellness lunch-and-learns the company does throughout the year with local businesses and health experts, covering everything from financial wellness and stress management to nutrition and fitness tips.
Veeva also has an impressive food program that offers free food for all its employees. While that is not unique, the difference is they only serve healthy, high-quality food and nutritious lunches prepared by their company chefs who are Veeva employees. “Employees love it since they can eat well at work while staying healthy. We encourage more companies to do the same - it’s good for people and good for health,” says Veeva CFO Tim Cabral.
Veeva is on the fast track to transform the life sciences industry. With more than 1,800 employees, they expect to continue to become a larger part of the Hacienda community.
“The greatest benefit of being in Hacienda is that many Veeva employees live within the Tri-Valley, so they are close to home and can work within their community. Also, we have a great partnership with Hacienda to offer discounted alternative transportation options to employees, including the Scoop ride-sharing application or trial-ride BART passes. Hacienda also contributes to employee quality of life via the area’s outdoor parks, high-quality child care facilities, and enhanced security,” said Cabral.
For more information about Veeva, visit their website at www.veeva.com.